ABBOTT CUTS R&D INVESTMENT TO ALL TIME LOW

Posted by Mark Gregory33gc on October 17, 2014

"Abbott Government spending on science, research and innovation this year is now only 0.56 per cent of GDP, an equal record low since Treasury started publishing data in the late 1970s," Mr Bandt said in a media release on September 29.

The figures from the media release have been investigated and confirmed by ABC Fact Check.

When it comes to spending on research and innovation, Australia already lags behind countries like the US, UK, Germany, Japan and Korea. But we’re set to fall even further behind. This year, we will invest only 0.56% of GDP into science and research -- that's less than we did in 1979.

If we keep cutting spending, the country's brain drain will continue and we’ll wake up when the mining boom is over to find that we’re a hollowed-out, uneducated quarry.

We respectfully acknowledge the Wurundjeri as the Traditional Owners of this country, pay tribute to all Aboriginal and Torres Strait Islander people, and give respect to the Elders past, present and emerging.

Respect Research is a campaign of Adam Bandt and the Australian Greens Victoria. Authorised by C. Quinn, Australian Greens Victoria, Lvl 1, 45 William St, Melbourne 3000